New Jersey Business Coalition Speaks Out Against Proposed Corporate Transit Fee: What It Means for NJ’s Largest Employers and Economic Future

New Jersey Business Coalition members have voiced their opposition to Governor Phil Murphy’s proposed 2.5% corporate transit fee as a funding source for New Jersey Transit. This plan could affect around 600 of the state’s largest employers, who collectively employ hundreds of thousands of people.

At a meeting in Trenton, the coalition discussed the implications of this increase and what it could mean for companies that generate millions of dollars in net revenue. Business leaders and advocacy groups are also against this proposal and are calling on the state Legislature to eliminate the tax increase.

One member of the coalition expressed concern about large companies potentially relocating to other states if they face affordability issues. They believe that implementing this tax increase sends a negative message to the established business community in New Jersey, and that competition from surrounding states in the region is already making it easy for companies to relocate.

The coalition plans to raise awareness and engage in discussions with the Legislature as the budget process unfolds, hoping to advocate for a solution that supports both businesses and New Jersey’s overall economic health.